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1 on day 1, in the morning at 10:05 AM, you took a short position in 3 USDTRY futures contract (i.e., you are the seller
1 on day 1, in the morning at 10:05 AM, you took a short position in 3 USDTRY futures contract (i.e., you are the seller of USD) at a USDTRY exchange rate level of 6.52. The following table displays the settlement price for USDTRY futures contracts in the next five days. Day 1 6.53 6.58 6.66 | 6.77 6.88 USD/TRY settlement price You are given the information that one USDTRY futures contract is worth the trade of 1000 USD. Initial margin requirement per contract is 550 TL, and the maintenance margin is 420 TL. a) On which day, does the investor gets a margin call for the first time? b) How much money should the investor put at least in his/her account to maintain his/her position in the market
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